The Board of Directors of SOCAM Development Limited announced that Mr. Lau Ping Cheung, Kaizer (Mr. Lau) has been appointed as an Independent Non-executive Director ("INED") of the Company and a member of the Audit Committee, Remuneration Committee, Nomination Committee, Finance Committee and Investment Committee of the Board, which will take effect from 1 June 2023. Mr. Lau, aged 71, is a chartered surveyor and has substantial experience and involvements in construction, real estate and infrastructure projects both in Hong Kong and Mainland China. He is currently the Managing Director of Biel Asset Management Company Limited and an INED of China Resources Mixc Lifestyle Services Limited and SEM Holdings Limited, both of which are listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

From August 2015 to January 2022, Mr. Lau was an INED of Kingboard Laminates Holdings Limited, a company listed on the Stock Exchange. He is one of the founders and currently the Chairman of Hong Kong Coalition of Professional Services. Mr. Lau is the former President of The Hong Kong Institute of Surveyors and a former Chairman of the Royal Institution of Chartered Surveyors (Hong Kong Branch).

He is a former non- executive director of the Urban Renewal Authority and a former member of the HKSAR Legislative Council, the Lantau Development Advisory Committee and the Long Term Housing Strategy Steering Committee. He is also a former council member of the City University of Hong Kong and The Hong Kong Polytechnic University as well as a former member of the National Committee of the Chinese People's Political Consultative Conference. Mr. Lau worked previously in the Shui On Group for over 17 years until he left in 2017, at which time he held the position of Director - Project Development at SOCAM Asset Management (HK) Limited, a subsidiary of the Company.

Mr. Lau holds a Higher Diploma in Quantity Surveying from the Hong Kong Polytechnic (now known as The Hong Kong Polytechnic University) and a Master Degree in Construction Project Management from The University of Hong Kong. He is a fellow of The Hong Kong Institute of Surveyors.